Dogecoin and SHIB sink as crypto markets losses $11billion overnight

The crypto market bled yesternight, shedding $11 billion. Dogecoin and SHIB were the hardest hit as the meme coins suffered the heaviest of losses.

Data from CoinGecko shows that Shiba Inu (SHIB) fell 4.5% over the past 24 hours and is now trading hands at $0.00001032, slightly recovering from the daily low of $0.00000998 seen earlier on Tuesday.

In the broader market, the cumulative value of all digital currencies fall 2.2% over the day to the current level of $960 billion.

OvIr $1.6 million in SHIB trades have been liquidated over the past 24 hours.

In the same vein, top meme coin, Dogecoin (DOGE), is down 1.8% over the day and currently trades at around $0.0593, data from CoinGecko shows.

With a market capitalization of $8.1 billion, DOGE now is the 10th-largest cryptocurrency.

Elsewhere in the market, Bitcoin(BTC) fell close to $19,000 in the early hours on Tuesday before recovering to $19,117 by press time.

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